NEAR Foundation Collaborates with Alibaba Cloud to Accelerate Web3 Growth

The NEAR Foundation, the organization responsible for the NEAR protocol ecosystem’s growth, has announced a strategic alliance with Alibaba Cloud, the Chinese tech giant’s computing and storage division. Through improved infrastructure and assistance for expanding on the NEAR protocol, this cooperation intends to hasten the adoption of Web3 throughout Asia and the Middle East.

Through this collaboration, Alibaba Cloud’s huge developer ecosystem in Asia and the Middle East is made available to the NEAR Foundation. By providing them with Alibaba Cloud’s “plug-and-play” infrastructure as a service, the objective is to encourage more developers to utilize the NEAR protocol. Developers may efficiently provide new NEAR validators thanks to this simplified methodology, which helps the NEAR ecosystem grow.

Enhancing the NEAR Ecosystem with RPC and Multi-Chain Indexing

Remote procedure calls (RPC) as a service will be made available by the NEAR Foundation and Alibaba Cloud to further help developers and users inside the NEAR ecosystem. RPC enables users to send transactions across several networks and access blockchain data. They will also provide multi-chain indexing, which gives access to data-query application programming interfaces (APIs) for developers. These services improve the NEAR ecosystem’s usability and accessibility while enabling developers to create creative decentralized apps.

The NEAR Blockchain Operating System (BOS), a platform that was introduced earlier this year, will be seamlessly integrated for the benefit of users of the NEAR ecosystem. The BOS makes advantage of Alibaba Cloud’s powerful infrastructure to let developers construct and communicate with other users. The NEAR community will have more opportunities for cooperation and engagement as a result of this integration, which also improves the user experience.

Positive Market Response and Alibaba’s Web3 Focus

In the wake of the partnership’s announcement, NEAR’s price increased by 8%, hitting $1.57. This shows how well the partnership has been received by the market and how it could affect the development and uptake of the NEAR protocol.

The recent hire of Chairman Joseph Tsai by Alibaba, a prominent Web3 investor, further emphasizes the company’s dedication to the market. Alibaba’s goal of assisting and creating possibilities for Web3 developers and validators is aligned with the relationship with the NEAR Foundation, which has already inked many agreements with crypto-related organizations.

“The NEAR Foundation and Alibaba Cloud partnership is an important one as we continue to support Web3 developers to explore opportunities,” according to Raymond Xiao, director of global Web3 solutions at Alibaba Cloud Intelligence.